Renowned industry expert Chad Steingraber has boldly set ambitious targets for the peak prices of Bitcoin (BTC), Ethereum (ETH), and XRP, with XRP expected to reach a staggering $250.
Despite XRP’s struggle to keep up with the overall crypto market gains, experts in the industry remain optimistic about its long-term potential. BTC has seen a 64% increase this year, while ETH has surged by 61%. Additionally, Solana (SOL) has spiked by 59.8%, and Binance Coin (BNB) has experienced a remarkable 119% growth since January.
XRP’s underperformance stands out, as it has declined by 18% within the same period, making it one of the few mainstream assets experiencing losses this year. However, experts like Chad Steingraber, an independent game developer, believe that XRP will eventually catch up with the market as the bull run progresses.
The optimism surrounding XRP is fueled by its impressive performance in 2017. During that time, XRP showed lackluster movements before eventually outperforming the market and surging by 48,823% during the bull run.
Steingraber’s recent projections indicate a similar pattern might repeat itself. He has forecasted peak prices for Bitcoin, Ethereum, and XRP in the current market cycle. According to Steingraber, Bitcoin could reach a peak price of $250,000.
Several analysts and industry leaders have also made similar predictions for Bitcoin. Billionaire Tim Draper previously expressed confidence in BTC hitting $250,000, while market analyst Raoul Pal recently made a similar forecast.
In addition to Bitcoin, Steingraber predicts Ethereum could reach a peak price of $25,000 during this cycle. This projection aligns closely with leading asset manager VanEck’s recent prediction of $22,000 for Ethereum.
Steingraber also anticipates XRP hitting a peak price of $250 in this cycle, aligning with BTC reaching $250,000 and Ethereum hitting $25,000. However, achieving this target for XRP would require a substantial surge, with the altcoin needing to rally by 500x or 50,000% from its current value of around $0.50.
While these projections may seem challenging, the unpredictability of the market leaves room for unexpected outcomes. It is essential for readers to conduct thorough research and exercise caution in making investment decisions, as the views expressed in this article are solely the author’s opinions and do not reflect The Crypto Basic’s stance. The Crypto Basic does not take responsibility for any financial losses incurred.